Oswal Sugar

Tatia Skylines and Health Farms Tatia Skylines and Health harms is setting up a five-slar Indian Heritage Village having, in addition to business and conventional facilities, a golf course, an aqua park, a yoga meditation and health care centre, an aerobic arena and a sports complex. The project will be spread over 200 acres of land and is mainly designed to attract rich Indians and foreign tourists. Of the total membership 25 per cent will be reserved for Indian residents. The project has been approved by the department of tourism, government of India which has promised to render assistance for providing infrastructure! facilities at the site. The company has been promoted by a group of Madras-based first generation entrepreneurs headed by Pannalal Tatia. The company is currently engaged in'a project for construction of residential flats in Madras. Located in the Thali region of Tamil Nadu about 44 kms from Bangalore, the new modern health-cum-holiday resort will consist of 100 cottages and the same number of rooms and maximum occupancy has been taken as 5,250 members (75 per cent). The project has marketing arrangements tied up in Italy and west Asia, while further negotiations are under way in Japan, US, UK and France. The project, which has been appraised by ITCOT, envisages a gross income of Rs 9.8 crore, Rs 13.7 crore and Rs 18 crore with a net profit of Rs 2.6 crore, Rs 5.4 crore and Rs 8.4 crore for the years 1994-95, 1995% and 1996-97, respectively. On a total capital of Rs 12 crore, the EPS works out to Rs 2.1, Rs 4.5 and Rs 7 for the respective years. The Rs 29.88 crore project will be financed through membership fee of Rs 17.88 crore and equity of Rs 12 crore, out of which Rs 1.5 crore will be reserved for NRls, Rs 75 lakh for Mutual Funds and the rest will be offered to the general public. The issue of 75,00,000 equity shares of Rs 10 each at par will open for public subscription on September 6.